1st question
I have a question you put on the GFE 802 a credit for a credit report and 805 on the HUD because lender is paying for this report. Do you show this POC?

2nd question

If that is the way it should be above then here is my next question what if the credit report was not pulled on the customer and the loan was closed on March 9 could you still pull the credit?

I know you are thinking why would you do a loan on a customer and not pull credit, but loan already existed and we just added to it.

Thanks for any help.

1st question - Yes or at least this is what we were told to do by HUD.

2nd question - Hum. I would be inclined to say yes as long as you got the Borrowers Authorization form signed but I'm not sure. When we audit a file or do an annual review on our investment borrowers we pull a new credit to verify ability to pay.

You can only pull credit when there is a business need. If the loan already closed and it's a closed end loan, not past due, you don't have a "business need" to pull it.

You can pull interim credit on open-end loans when reviewing accounts for various reasons.

So,if we did not pull the credit, do we still show any fees anywhere? If so where and thank you.